Pros
In some areas you can be lucky to work for people-oriented managers (but given the company puts managers to the positions ignoring their management skills - this becomes more and more rare)
Cons
You will be put in the position to deliver unclear goal with unclear ways of working, will get no support and governance, and will get no care of your own development and needs People in top roles show no commitment to the long-term prosperity of the business. Very poor role models behaviour shown - no inspiring trust, no desire to drive excellence, decision making is chaotic and unsustainable, frustrating the teams. Very high tension on the top level for power, where the center tries to show the operating companies its power over them, no respect to operating businesses, and no collaboration and support to them to drive the company goals.